10,000+? For how long?

BlueStreak · #1 11-14-2009, 12:23 AM

Well, it's been what, three weeks a month since the DOW rose above 10,000?

The day it poked its little head over that mark, I asked (On AK) if anyone thought it was sustainable. Most of the folks over there said "No!".
Well, it has yet to drop significantly. As a matter of fact it continues to rise, albeit slowly. Yeah, maybe I'm being impatient, but is this going to be one of those embarassing moments where somebodys doomsday predictions don't come true?

What do you guys think?

Dave

Sandy G · #2 11-14-2009, 03:07 AM

I dunno- The Dow's pretty high, but silver & gold have been doing "land-office business", too, at $1120 an ounce for gold, & $17.00 an ounce for silver-as of Friday the 13th's close...They fluctuate, too, however.

Grumpy · #3 11-14-2009, 05:13 AM

I think the Dow is inflated by the propaganda our government is feeding everyone. That and its being propped up on our tax dollars back.

IMO its bound to fail again.

merrylander · #4 11-14-2009, 07:24 AM

The theory (or explanation) I heard was that as long as the Fed keeps interest rates at 0 people are taking U.S. dollars overseas, say Thailand and buying Thai Bhats (think that is what they call their money) getting a 4 or 5 % return and then converting it back to U.S. dollars that in the interim had been devalued so they make extra profit. None of this is helping the dollar's value but the thieves in Wall Street could care less.

Fast_Eddie · #5 11-14-2009, 07:30 AM

Look at the Dow vs. the Dollar and there's no real mystery. As long as we keep a weak dollar policy in place the Dow will do okay.

Grumpy · #6 11-14-2009, 05:40 PM

Mojo jojo !

That is forever how I will envision you speaking your posts LOL

Boreas · #7 11-14-2009, 06:10 PM

Wait until commercial mortgages start going into foreclosure. It's coming and it'll send the DJIA into a tailspin.

John

Fast_Eddie · #8 11-14-2009, 11:05 PM

Quote:

Originally Posted by Grumpy

Mojo jojo !

That is forever how I will envision you speaking your posts LOL

Somehow seems appropriate, doesn't it?

I am *right*! But yooooouuuuu.

Centralflori · #9 11-14-2009, 11:13 PM

Quote:

Originally Posted by merrylander

The theory (or explanation) I heard was that as long as the Fed keeps interest rates at 0 people are taking U.S. dollars overseas, say Thailand and buying Thai Bhats (think that is what they call their money) getting a 4 or 5 % return and then converting it back to U.S. dollars that in the interim had been devalued so they make extra profit. None of this is helping the dollar's value but the thieves in Wall Street could care less.

Only in America....................Oh wait that happens in pretty much every third world country also.

Sandy G · #10 11-15-2009, 07:31 AM

Quote:

Originally Posted by Boreas

Wait until commercial mortgages start going into foreclosure. It's coming and it'll send the DJIA into a tailspin.

John

Yeah, I keep hearing about that one, too...They all talk about it in darkly ominous tones, like its gonna make the housing mess look like a Sunday-School picnic...Why do I think our entire financial system is basically an ill-constructed pile of pebbles, & if the ONE pebble somehow becomes dislodged, the whole thing comes a-tumblin' down, like the Walls of Jericho ?